[laughter] stuart: he was great. connell: love regis on tv more than anyone in history. thank you, stuart. we have a lot of news this hour. charlie gasparino standing by with a breaking story. eliot spitzer bringing two sides together. cbs, dennis has a story on that for us. monica crowley is here to wait on the low 2009 levels. the bank of america in turn, we will find out exactly what happened.

♪ connell: markets now begins with the news that is breaking. charlie gasparino joins us from the newsroom. charlie: the little bit bored. it may happen. it is about 4000 people combined. mergers are never easy. there are always synergies to be found. publicly, they have said nothing. spokespeople will not comment. in past segments, they have

talked about synergies. spitzer is contemplating fairly significant cuts. the numbers he is going around are pretty significant. clearly, job cuts are in the air over there. this is pretty interesting. the new york stock exchange keeps a pretty large workforce. ice is pretty thin. the new york stock exchange has a lot of duplication. twenty lawyers doing the same thing. it is that duplication that he tends to take out as this merger progresses. it is set to close in the fall. after it closes, that is when

you can see these job cuts. large cuts, largely done at the new york stock exchange side. the combined cuts could be about 30% of the 4000 people at this newly found company. connell: is there a type of worker that is more at risk? >> we do not know. there are 20 lawyers doing essentially the same function. it is not like they will just cut the back office people. we should point out that this will be an interesting clash. he obviously works for spritzer. he would contend that a lot of

this overhead is needed. the new york stock exchange is not a computer in atlanta. it takes a salesforce. it takes marketing. it makes a decent amount of money from listings. an interesting statistic, 1000 employees. you see the difference. you see why he is looking at "synergies." meaning cuts largely affecting the new york stock exchange. connell: more to come on this, i am sure. the dow is up 50 some point. on track for the third losing week in a row.

>> let's take a look here. we are down about 760-point in the last three weeks. today, we are getting some of that back. we have seen some selling today. it is a little bit better. up almost a half of 1%. we have seen the financials shining. alcoa, the aluminum maker, also looking good. looking good across the board, at least for now. back to you. connell: nicole, thank you. the time warner cbs cable dispute is still going on.

former new york governor eliot spitzer. dennis deal is with us. dennis: eliot spitzer will be at a debate tonight. he is the one window in almost a three-week standoff between cbs and time warner cable. they go back live, but just for an hour. then, cbs will shut down again. they will go back on air next wednesday for an hour.

it is just a sign of how bitter this fight is. look at this memo to the staff. striking a deal with verizon bios. they have made a big deal out of that. "i cannot describe to you the frustration i feel that these negotiations have gone. never did i ever think they would have lasted this long". connell: dennis, good reporting, as usual.

yahoo! is back or it looks like it is back. they have topped google as the most visited internet search engine. it did so last month. the first time since 2011. let's take a look at some stocks related to all of this. here are some numbers now that are headed in the wrong direction. that average u.s. household is earning less now than when the recession ended four years ago. monica crowley is here with us. >> this is pretty depressing,

but it is no surprise. you have stubbornly high unemployment. unemployment affects everything. number two, you have got record numbers of people leaving the workforce. tens of millions of people are no longer working. you have the growth of the government dependency and welfare state. connell: i would like you to explain why a little bit more, if you can. why, specifically, is this the president's fault?

>> you had an unemployment rate dropping. you are adding up to a million people per month into the workforce. to get to your question about obama's policy, reagan rolled back government. he cut back taxes. all obama has the exact opposite. you have to do the exact opposite of what obama has done. connell: listen to monica crowley on some stations. charles payne is coming up. he will talk to you about

harley-davidson. why haven't we done something about this? workers are getting ready to walk off the job. first, we mentioned oil a second ago. we will be right back on markets now. ♪ [ male announcer ] at his current pace, bob will retire when he's 153, which would be fine if bob were a vampire. but he's not. ♪ he's an architect with two kids and a mortgage. luckily, he found someone who gave him a fresh perspective on hisortfolio.

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♪ connell: we love those dollar bills. time to make a little money with charlesschool is in session. charles: it is a great lesson. the stock was abysmal. everywhere possible, they did not just miss, they blew it big time. a few months ago, the ceo said

he did not want any packets wearing his clothes. to tell the world that these people are not worthy of wearing my clothes, guess what, your stock drops. even if you do not want them to wear your clothes, you do not come out and say that. i think it is reflective of the world and country we live in. we live in a very mean-spirited country. there is a company that is doing the exact opposite that is getting it right. harley-davidson. sales are growing at twice the rate for women, blacks and hispanics. the company said the core demographic of white men over 35 years old will not be able to sustain us into the future.

they have welcomed everybody in. connell: your report on stocks, i feel like we are talking about immigration or something like that. charles: i should be able to convince you to come to my side without calling you any names. this all goes back. you reach out to people. we see it. we see it in applications. you cannot tell people that you do not want them there. connell: i like it. be more like harley-davidson.

charles: it is not pandering. when they sell their products in china -- connell: you are on it today, charles. hewlett-packard taking a dive today. let's go to nicole. she is tracking the stock for us. nicole: we are down 26 negative dow points. they are attributed to the losses that we are seeing in hewlett-packard. down about 13.5%. you are right, the dow would be higher if it were not for hewlett-packard. the ceo said that sales growth is unlikely.

one reason, the enterprise group. a group that really was supposed to be taking on ibm. that group was a disappointment in the latest quarter. connell: thank you. can we finally put this to rest? the debate over energy dependence. we will talk about it coming up. plus, the tragic death of this bank of america intern. there is new information to out on that. first, more markets on markets now. take a look at world currencies. ♪ [ male announcer ] how do you get your boue?

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♪ >> 22 minutes past the hour. the day after being sentenced to 35 years in prison for leaking

military and diplomatic documents, bradley manning said he wants to live his life as a woman named chelsea. he begins to want to begin hormone therapy. more violence today. the syrian government was not responsible for yesterday's fumes. mubarak has been released from jail. he was ordered released after corruption charges against him were settled. he is now being retried. those are your news headlines right here on the fox business network. get you back to connell.

connell: thank you. we turn now to that of fact on price of oil. as rough joins us from toronto. every time we have the discussion about oil and what is happening in the middle east, it is not like it is saudia arabia, for example. is anything that is happening over there something that should be of concern? >> you are right to say that the suez canal has been secured. it is good for both europe and america. the real threat is not the suez

canal. it is what would happen if the muslim brotherhood were to succeed in egypt. that is their goal. remember, they want to spread their particular brand and oust everyone else who are trying to prop up the egyptian military. it threatens even the security of supply. that is, i think, the worst-case scenario. connell: somebody was wondering why the saudis are willing to make up the dollars that may be lost. the scenario that you are describing is fairly low probability. >> absolutely. remember when we had the civil

war and libya. supplies were restricted. suddenly, countries were scrambling to make up their lost libyan supply. i am not saying that all of the sun and the 89 million barrels that the united states imports would be cut off, but you could have some oil cut off. right now, you have a shovel ready project. actually, it is more than that. 90% is already built. the canadian side, we are just waiting for that part to cross the border. all of a sudden, you are displacing 8000 barrels of opec conflict oil. there is no risk of a coup.

connell: still as you say, waiting for the green light. it does bring up your proposal. you would like to see the gas pumps labeled. it would say saudia arabian oil or wherever the oil came from. do you still believe that? >> everything in walmart or toys "r" us has a label. unlike fair trade coffee, fair trade oil, conflict free oil is the same price as opec oil. i think it would encourage politicians to make the right choice and encourage refiners to source oil from peaceful democratic countries instead of buying from, frankly, american enemies. i love the u.s. and canada relationship. connell: sure. label the pumps.

we appreciate it. we will have you back again. we will have more energy talk coming up. fracking is a big thing. jeff flock is doing some reporting on that. just looking at what interns are paid on wall street gives you the idea the responsibility it places on these college kids. it may have helped lead to the death of an intern for bank of america. some winners on the s&p 500 today. ♪ [ male announcer ] these days, a small business can save by sharing.

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connell: back at the half hour. we are going behind the tragic death of a bank of america and turned and what it says about the culture of wall street. workers at fast food change across the nation are planning a walkout. first, to jcpenney. taking its fate into its own hands today. nicole has that for us at the exchange. nicole: adopting the shareholder rights plan to do this. you have other new owners including george sore notes.

this is a big deal. this is not the first time that jcpenney has done this. after this, they bought more than 26% of the department store chains shares. it is an order of protection to a certain extent. down over 30% this year. connell: thank you. a man found dead august 15 in the shower after he supposedly left a 72 hour shift at work. german exchange student. just a week away from completing an internship from bank of

america. we bring back charlie gasparino. we also have a doctor with us. we will talk about some of the medical aspects of this story, as we know it. charlie, let's start with you. charlie: we do not know a lot. the autopsy is not completed. we were led to believe that it could happen today. it could take a couple of weeks, we are told now. investment bankers to work long hours. these are the interns and associates of investment bankers. they are known to put in the all nighters. maybe one, maybe two, but rarely you hear three. there is speculation going

around. it is not that he adjusted three all nighters, it was that he was working a string. eight straight days of 16 hour days and then put in this very heavy amount of work. not everything is out yet. there is no toxicology report just yet. a lot of people, a lot of kids in order to stay up will take something. you were in college. you know what people did. connell: that is part of it. let me go to the doctor. we have all pulled in an all nighter every now and then. you get through the day. what starts to happen, radically, if you do do that for two or three days. >> it affects the hormones.

the stress hormone goes up. it stays elevated and affects our sleep. what happens is we have an increased appetite, but we are fatigued. what really happens is how we cope with it. i know the effects of sleep deprivation. how we cope was, back then was caffeine and coffee. now we are coping with energy drink. connell: does the fact that this young man died tell you that most likely that there was some sort of substance involved as opposed to the body having a terrible reaction to sleep deprivation. >> well, it can be one or the other.

we also know that excessive caffeine, excessive stimulants, ritalin, adderall, or energy drinks can cause arrhythmias of the heart. a lot of unanswered questions. many possible mechanisms. charlie: we should point out that he may have a pre-existing condition. my brother is a doctor. doing those 36 hour times, my brother would actually catch a couple hours of sleep. i am sure that you closed your eyes a little bit. you did not catch a cat nap here or there during those long stints? >> yes. you never go into deep sleep. the hormones stays elevated.

charlie: what makes this different, i think this was a marathon session. you are in a financial crisis. i work four days around the clock, but i caught a few hours of sleep in my office. we will get more details. connell: what is going on at these banks? charlie: i think it will be a watershed moment. are they working their kids too much? they want that job, they want that pot of gold. the kid will not say no.

there is also a cultural thing here. yes, the thirst for money forces while streeters, sometimes, to do bad things. it also forces people to work beyond what they should. it is kind of a macho attitude here. >> it was reported that he was working 15 hours a day, six and a half days a week. plus pulling multiple all nighters in a row. with that kind of stress on the body, most likely he turned to something. we will find some type of caffeine or something. it can lead to arrhythmias.

four or less cups of coffee is usually safe. connell: thank you very much. we will get these results of the autopsy if and when they come out. solving the energy problem for fracking. this is jeff flock's story today. fast food chains nationwide looking at a worker walkout next week. low wages is one of the big complaints there. eric holders latest campaign to take on the banks. dennis and cheryl will have more on that as markets now continues at the top of the hour. ♪ the most free research reports, customizable charts, powerful screening tools, and guaranteed 1-second trades. and at the center of it all is a surprisingly low price -- just $7.95. in fact, fidelity gives you

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♪ >> i am jo ling kent with your fox business brief. stocks are trading higher. checking the dow right now, it is up about 40 points. the number of americans claiming new claims for jobless -- the labor department says it rose by 13,000 last week. more closely watched four-week moving average fell to the lowest level in more than five years. another tough day for retailers. a loss of $1.46 per share.

revenue fell 6% from last year. that is the latest from the fox business network. giving you the power to prosper. ♪ right now, 7 years of music is being streamed. a quarter million tweeters are tweeting. and 900 million dollars are changing hands online. that's why hp built a new kind of server. one that's 80% smaller. uses 89% less energy.

and costs 77% less. it's called hp moonshot. and it's giving the internet the room it needs to grow. this&is gonna be big. hp moonshot. it's time to build a better enterprise. together. connell: oil production in the first week of august hit a 20 year high in the united states. the popularity of fracking is causing a boom. jeff flock joins us from wisconsin. jeff: one of the big things that fracking needs is sand. this is a sand mine. it is just booming these days.

you need a lot of product. >> that is right. jeff: take a look at that production that you just mentioned. it took 20 years for production to shrink. they pumped this sand into the fracturing fractures, essentially. >> that is correct. it is used as a property agent. it creates fractures. maximizing the pumping and their use for both gas and oil. jeff: take a look at where in wisconsin this is taking place. we will take you the whole day showing this operation. it is special sand.

this is stuff that is ideal, actually for this use. >> that is right. the roundness and strength of the sand make it unique. >> this is huge on wall street. take a look at u.s. silica. it is up 75%. huge market now for part of the, you know, the way that the economy benefits from a hydraulic fracturing practice. we will be here all day. it should be fun. connell: it will be. we have elizabeth macdonald coming up. we want to do a quick check on the market. it looks like we may beat the

street today. >> it is all coming from overseas. i think this market has gotten too tired of getting this slow beat down over the last ten trading sessions. we are getting towards the end of the month next month. yesterday's fed comment did not really push anyone either way. connell: hanging and today off the highs. a massive worker strike planned for next week.

>> they are looking for the rights to unionize. right now, in terms of following the story, we are watching them basically lied up the social media networks that say there will be a massive worker walkout next thursday. we're talking about possibly in 35 minutes. essentially, the average pay is around 15,019,000. the average daily pay $25,000 a day. we are expecting a big walkout next thursday. the franchisee's owners are also

coming back and saying, hey, wait a second, we have to pay a big chunk of what we make. right now, connell, you will possibly see a major fight. they are under severe pressure to raise the wages of cross the country. connell: a minimum wage are given. it has always been the economic argument behind it. to the said. bernanke pulling the punch bowl. sandra smith is back with us today. she will talk about it. sandra is coming up. so winners today that we are seeing on the nasdaq. back in a moment.

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connell: we talk about the fat all the time and the affect on the market. the dow below 15,000 today. who better to talk about all of this then our friend sandra smith. first of all, welcome back. tell us about the fed. >> it is so nice to be back.

we have been looking at these markets for some time. are the raw fundamentals really at play here? is it artificially affecting the bond market? the answer from most traders on the floor is, yes. when you look at the stock market today after those minutes were released yesterday, stock market stabilizing just a little bit today. john brady probably put it in the best words. when the baby gets used to the bottle, it is hard to take it away from the baby. you take away the fed money printing, bond buying program, it will be a harsh reality for the stock work it. once again, having the balance sheet that affects the stock market. by the way, we are looking at a

ten year yield nearly at 10%. these are really important times for these markets. commodities reacting with a sea of green today. lots of money could come out of the stock market. connell: great job. congratulations on the birth of your beautiful baby. there is a picture on the screen right there. so, so cute. everything is going great. >> the best. my pleasure to be in this new club of motherhood. connell: congratulations. it is great. it is good to have you back.

no mall madness from abercrombie to sears. a number of them have reported horrible sales. cheryl casone and dennis kneale will take over on market now. charlie gasparino has been working overtime for us today. he is back. charlie will have that coming] up. stay with us on market now. ♪ protect youramily... and launch your dreams. at legalzoom.com we put the law on your side. and join us atr dreams. projectluna.com

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no more madness from abercrombie to see years to many other nations. retailers reporting horrible sales and this is weighing on the dow, we are a 46 points. we ask not working about retail and trouble in that sector. dennis: this is what is bugging

me. attorney general eric holder's plan to crack down on banks enduring economic recovery. live thought that and i want to hear from you. cheryl: catching in on fracking. knew where the street to make a profit and invests on the boom in shell oil production. >> stocks every 15 minutes, nicole petallides on the floor of the stock exchange, end imaging six days of sliding dollar. nicole: we have seen selling in most recently, of two of 13 trading days and give you the sense of how many red arrows you have seen. the third losing week on wall street, we are below 15,000 still, hitting at 14,948. that is without being today. peer point, the dow was up 51 points.

microsoft got an upgrade, and alcoa, the aluminummaker, financial looking good, bank of america, are shutting. you do have most of the indices with the arrows, even the transportation index looking good names like abercrombie and thickened these retailers are under pressure, abercrombie down 20%. back to you. gerri: you cannot you a better day for the dow, and the s&p if we have the retail situation going on, thank you very much. the sector certainly is having a rough today, sears, abercrombie having a problem here and falling sales in the latest quarter's end of its report that did not add any of the big names following in the footsteps of shopping's biggest names like he's, wal-mart, target, big companies with major misses or bad forecasts. rick snyder, senior consumer retailer is here. all of this is based on the consumer and we had this discussion before about what is

wrong with the consumer. effecting this sector. are we going to see a turnaround? >> there are two things. consumers of little week moving away, spending and bigger kicker furniture, housing related and auto related items. this retail season has been very difficult. i downgraded macy's and nordstrom before they were boarded. i was concerned about the earnings season. cheryl: also going in we are in the middle of back-to-school depending what part of the country or in, some schools already begun and the holiday season coming up with is crucial to incorporate for these names. and looking ahead to december. and dumping names? >> i think you should because when it is back-to-school it correlates for the bad holiday season. >> and talk about a name dimension, macy's, and was a

shock to many. and other analysts that cover the company, they reported again cautious consumer. is this an excuse by these names when overall it could be an execution problem like jpmorgan -- like j.c. penney >> >> it is consumer, downgraded stocks and there was something going on and this feels a lot like late summer of 2007 when you meet with retailers and it was hot, late into october and sales are bad, they said that in the first quarter, july sales were bad, mall traffic was bad, that is last time. cheryl: with the names that mid the estimates, abercrombie, sacks, macy's, walmart, these are completely different sections of the economy, seems like a broadbased miss when it comes to the estimates. if you look over a couple names that pop out, these other companies that can actually have

problems in the fall? >> i am bullish on j.c. penney, the recovery is underway, it will be a long process. there's a lot going on there that is positive. cheryl: and lower their outlooks. it is a target, walmart was a surprise and saks coming out so even the high end consumer seems to be having issues. >> it is something of a shift towards spending towards bigger ticket items away from apparel. cheryl: you are one of the few analysts and j.c. penney. i want to ask about that and you had discussions before the outcome of the shell landed and a lot of people have been very negative on the economy. why do you think they can make it work when macy's can't make it work and walmart is struggling? >> let me back up a minute. last year i was on fox and i was very bearish supply only recently turned around.

i think j.c. penney is not about execution but getting there customer back, changing their merchandise, getting traffic back in the store. it is a special situation and they are against such easy compares on revenue line and gross margin line, when they turned positive the stock will happen. cheryl: you are right on the bearish calling you are bullish and going bearish on a lot of other names so if viewers want to make cash they will follow you can buy some things as well so thank you very much. good to have you on a day like today. dennis: president obama pushing for more affordable college and rich edson joins us in the bill with that story. rich: president obama resumes his economic tour, a two day trip through new york state and pennsylvania. we heard the president restated proposals on housing, corporate tax reform and infrastructure spending adding a few new details. it is higher education, figuring

out its massive and growing cost, the cornerstone of the president's plan is a university rating system based on value. the president wants to allocate federal student aid based on those ratings. >> we are going to start reading colleges not just by which colleges the most selective or which college is the most expensive or by which college as the nicest facilities, you can get all that on the existing rating systems. what we want to do is read them on who is operating the best value so students and taxpayers get bigger bang for the buck. >> critics say the plan will do little to slow college costs. republicans have been mostly quiet about the education proposals, instead calling his entire economic tour another soliloquy of so-called solutions while there are major problems in the middle east. dennis: good alliteration.

thank you. rich edson. what is bugging me? the wall street witchhunt. attorney general eric holder talking tough, vowing to bring a wave of new cases seeking to punish banks and baker's five years after the financial meltdown but talkers aren't doing. criminal conspiracies were the cause of the financial clout collapse dozens of fat cats would have been indicted by now. instead we got fabulous staff, being for reckless and unwise and short-sighted and greedy which isn't the same thing as being criminal and evil but the feds are in relentless pursuit, state attorneys general follow leica pack of hounds and plaintiff lawyers seek to have fines from the banks, and risked hundreds of billions of dollars, capitalism is optimism monetized and i worry this obsession with blame and recrimination is

hurting our recovery, killing our buzz. we are punishing the past instead of building the future. i know we are angry at the banks. it is time for government to leave them alone. soaked wheat me your thoughts. government cracked down on banks in during the economic recovery? cheryl: i give you a little and that one. job cuts could be hitting the new york stock exchange. charlie gasparino reporting that the merger may mean the loss of a third of a staff. dennis: uneasy truce, cbs will be on time warner cable systems in new york but only for an hour and it is not for football. that story ahead in the media minute. gerri: entertainment tonight hour. dennis: let's look at energy. ♪

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where the dow is trying to stay in the green. nicole petallides. nicole: i want to focus on hewlett-packard, dow component under pressure. we talked about other nations in the retail sector that have come under pressure, hewlett-packard dow component down 12% and that is accounting for 20 negative dow points. the dow at 66 points. let's say it would be up 86 points or 90 points if not for hewlett-packard in the dow jones industrials. let's talk about what we saw in the latest quarter for ila packard so meg whitman has been reshaping hewlett-packard the last couple years but the latest numbers declined the enterprise group revenue and changed the leader -- that was supposed to be the area of computing services that would take on ibm and meg whitman and the gang calling that disappointing in the latest quarter. making a change, going forward, sales over the next fiscal year

is unlikely. dennis: in that quarter, and h p spend $3 million buying back stock which means the company itself doesn't think it is a buy yet. cheryl: we have breaking news in the new york stock exchange and job cuts courtesy of charlie gasparino. >> they were bought by the intercontinental exchange last december. you always expect synergies to occur, job cuts, when you merge two organizations together and the job cuts could be significant. sources are telling us these are sources with direct relationship, the ceo of the combined entity, thinking about cutting massively into the workforce and a lot of those cuts come on the new york stock exchange which has 3,000 people, the intercontinental exchange and a thousand people, intercontinental exchange profit margin of 60%, stock exchange as

profit margin of 30% so you know era is going, and it could be if you put it all together, combined entity is 4,000 people, talking about it could amount to as much as 30%. no decisions have been made yet. this is not in writing yet. we reached out to the stock exchange, no comment other than the 8 talked about synergies but we get this with people with the technology and fletcher is contemplating a fairly significant cuts once the merger gets close. i believe it is closed at the beginning of the third quarter, sometime in the fall we should point out. it is interesting, quick to somebody the stock exchange has, quote, 20 lawyers doing the same thing. when you have that type of overlap, he thinks there is a lot of fat to be trimmed from

the stock exchange. the new york stock exchange will tell you they need a lot of overhead. this is a different animal than the police which is the computerized trading mechanism which focuses on options and the stock exchange and other things get a listing, gets companies to list on the stock exchange marketing and advertising that goes along with that which means more head count. it will meet in new middle. from what i understand there's not a lot of middle ground here. they have been running the show from what i understand and basically the new york stock exchange for better or worse is being managed, they do not have much say, what i hear from sources at the stock exchange, this is fletcher's baby, duncan neiderauer, the ceo of the stock exchange vowed to stay with a combined company for a year-end the president of the combined company, c e l of the stock exchange but really this comes

down to what jeffrey fletcher wants and he wants cuts and is talking about big cuts over at the big board. cheryl: can they make additional revenue by renting out? i don't know if they control every floor in the building but can they bring in additional revenue by renting out? it could be business. >> the stock exchange, the thousand trades depending on the day essentially a studio for business reporters like us. cheryl: it is fun. >> the stock exchange has moved into that sort of computerized trading aspect, what is known as archipelago but there are people down there and it is more than that. we are talking the staff of the stock exchange, it is a company that makes money essentially through marketing that list their shares on the stock

exchange and technology. there's a degree of manpower that is not needed in atlanta where they keep their computer. they're looking at profit margins saying there is overlap. cheryl: that is the plan. it would be a great place for a restaurant. dennis: the cyberfred, let the buyer beware, protecting companies and users, advice coming up. cheryl: hosni mubarak arriving at a hospital after being traded from prison as the elected president is under house arrest. details coming up in the fox news minute. ♪

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>> 21 minutes past the hour your fox news minute. wildfire outside yosemite national park more than tripled overnight and threatens 2500 homes. fire officials said the blaze has grown to 84 square miles and now only 2% contained, that is down from yesterday's estimate of 5%. more violence in syria as the west's demand the government give chemical weapons experts

access to the damascus suburb where poison gas appeared to have killed hundreds. the syrian government insists it was not responsible for yesterday's killer fumes. hosni mubarak has been released from jail. the former egyptian president was flown to a military hospital. he was ordered released after corruption charges against him were settled. he is being retried in the killing of nearly 900 prisoners. in the 2011 uprising that led to his downfall. those are your news headlines, the fox business network. let's get you back to dennis. >> widespread pandemic and what we have seen, we are seeing a hundred companies involved in this. we have gone from the cold war to the code work, we are in the cyberwar and losing. >> i don't say cyberwar because the following question is why hasn't happened yet? >> they don't have to attack everybody, just a week actors.

>> companies that think they're too small, not well enough known to be targets of commercial espionage are kidding themselves. dennis: scare the daylights out of us, a dark recap of a lot of reporting at fox business on the cyberfred and a ton of well-publicized cyberattacks and infiltrations formed in company to read the defenses, cyberbudgets, and acquisition of cybersecurity firms, takeovers the new rage and that is what i will talk about today with our cybersecurity expert and attorney brian fence. we appreciate it. let's cut to the chase and get to why, we had cisco by source fire and it was the 30 isn't premium whether stock recently was, so publicly held stocks we're keeping an eye on. >> there are a number of companies like, well sellout

there that are publicly held and talk that they are ripe for acquisition, there can be any number of companies coming up in the future and the question investors have to ask, they may be sexy and at next generation technologies but are they worth the investment? if they're going to be purchased, if i'm on private equity or acquisitions side looking at these company saying there will be value added to my company in the future as i integrate security into our components and future products and software offerings. dennis: investors ought to get in the shoes of a would-be corporate i t guy to decide what security to purchase but you have run through your notes and have an interesting metric on how cheap cyber crime itself is which is why companies like the ones you just mentioned are able to sell their stuff. tell us those metrics. >> for $2 an hour you can hire a hacker with a four hour minimum like a messines to conduct or deny an attack or take down your

web site. for $30 a month you can rent a service that will test your new malware and virus to see fit in the standard firewall systems and for $5,000 you can hire someone to create zero dave vulnerability which is previously undetected and existtng standards won't detect because they don't know about them. you see the estimate trickle nature of that calculus. for a few dollars you can take down a website and interrupt ecommerce for a few dozen dollars or few thousand dollars at most you can create real havoc against pretty sophisticated and secure systems. dennis: go ahead and send an e-mail how i-those guys to hack into some interesting companies that i cover. and interesting point i hadn't thought of. as you look for cybersecurity keep in mind regular security companies because it turned out the two go in tandem. talk about that. >> there is physical security element we are talking about.

and make sure those are not invaded because that is one way to get in and conduct a heck of a system but what i am also talking about is regular information technology and software companies, a lot of times these new threats exploit the vulnerability is in those systems in word processing or visual graphics or web translation programs that display in your computer, if those have vulnerabilities they exploited by hackers to get the malicious code into a system so you need to understand how well they are designing their products? are they taking security into mind and if not if it is discovered to be a major flaw sales will plummet because smart i t sectors are going to say this system while it works well has a major security vulnerability and i won't invest in something that could result in me being robbed blind. dennis: two stocks to watch for possible takeover and teaching you how to fish and look at this

sector. thanks for being with us, brian fitch. cheryl: it is fox business all-star showdown, semifinals. oliver porche is back to battle it out for the best stock picker in the land at least on fox business and more than their reputations on the line. they are york and there is now dinner involved. take a listen. >> round 2 of fox business all-star showdown and i am looking forward to making down the law with jim freshman this friday. i am so confident by will begin we have side bets going for dinner and drinks. >> looking forward to the second round of the fox business all-star challenge. and heading into the cab at the end of the meal. cheryl: that is jim for showing's restaurant. don't miss out this plays out at the showdown tomorrow at noon eastern time. he is part owner.

dennis: a loser should pay for that. now let's talk citibank stock, buy, sell or hold. we will debate that coming. cheryl: a great way to make some money on fracking. you need to see this new way to invest in stocks related to fracking and shale. we will demonstrate. dennis: still time for you to get in on what is bugging me. the government cracked down on banks in during our economic recovery. tweet me, your answers coming up.

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and that gelling hes to lower some cholesterol. metacil. 3 amazing benefits in 1 super fiber. cheryl: tech issue halted trading in all nasdaq listed securities. nicole petallides standing by at the stock exchange. nicole: it is interesting because it seems to be a brief

pause because the nasdaq is saying all channels are operating normally and working for traders and a multitude of ways they get information including y. on the wall, including other ways, using the bloomberg terminal. the options market has been halted for a brief time and was on the securities that it seems the nasdaq says all channels are operating normally. there was an issue earlier today with the nasdaq and the stock exchange but that too has seemed to pass. there was a halt in trading, really unclear as to what that is but the good news is everything seems to be operating normally at this time. a quick fix certainly but enough to get everybody talking about it and give people a flick in the middle of the day, the august trading day. everything seems status quo at the moment. cheryl: we always find out there

are glitch as we did know about and everybody says i missed the trade, so we will follow this. appreciate it. dennis: record oil production in the u.s. feeling a boom for companies in the fracking business and jeff flock is in wisconsin with an interesting way to play the fracking. jeff: it is all about sand. this is the fair amount of minerals in wisconsin, i got the plant manager. one of my looking at? >> said coming out of the hopper feeding the drying system. >> here is the deal about stand. look and oil production in this country. what took 20 years of shrinking has been restored in two years, he essentially adding brazil. the whole country of brazil at oil production to our oil production. one of the things oil production needs is stand for the fracking process. explain why that is. >> it is use in the process when drilling for oil.

picture a garbage can full of marbles. can't push down on it but what will pour through it. dennis: the sand we are looking at, look at that, that goes into the fractures and keeps the fractures open so the oil and gas can emerge. where in the country is your stand going? pretty much everywhere. if we look at natural gas. >> absolutely. we shipped to many markets. we also shift to glass markets, construction as well as the oil and gas market and it served all over the country. >> it doesn't just go for fracking but other things. >> glass, construction, foundry, water filtration. jeff: how big is that? talk about planning. look at the company high crush. went public in the last year. they are up 57% year to date. the other thing about this is this fracking push prices down. look at natural gas prices.

if you look at the five your chart 2008-2009 we were looking and natural gas above $10. we are now $3. it is all about fracking and you can't do it without sand. stand is huge and wisconsin it is booming. fracking all around the state. dennis: thank you very much. cheryl: our next guest has the unique way to invest in fracking like you saw in jeff flock's report, shale oil and the lot more. the ceo of motif investing created a new way to buy equity and by want to let viewers know your site is behind us. you have a lot of different areas whether it is chinese solar, nuclear, black cold. let's start with fracking. you have a cheap way to invest in fracking. >> we created a motif and these are intelligently weighted

basket of stocks built around ideas like fracking, shale gas, shell oil and if you look at this motif there are 20 stocks in here, but you can buy these stocks in one transaction, 30 stocks with a price of one. you see how individual stocks are done weighted by shale gas. cheryl: when creating my own i understand the story of fracking for instance and instead of having to go through and to buy the stocks individually, for $9.95 i can by 30 of them. you are going to do it for me. >> what we do is tell the shale gas matif has done against conventional oil. cheryl: you have a big oil motif. >> that shows you why it is doing well. if you like what you see you can customize it so there was a story this morning on fox business where they were worried what was going on with a patchy in the middle east, you can take out a stock, delete it, use

sliders and hope the nasdaq is running, put as little as $2.50 or $100,000 it will cost you $9.95 to buy the stocks in real time and as you can see we are sending this order to market and you just bought shell oil. cheryl: you are taking the news you follow every day and i don't believe in the global but i believe in jail or fracking technologies. you are previewing the companies for the investor, correct? you are showing me these are the companies, say balkan or -- those were companies in the game early and those are the ones you're putting into the basket. >> absolutely. for a lot of this like shell oil there is no other way to get exposure. a lot of the e t fs have conventional oil and it is very hard to plan. this is the only way to play shale oil purely. cheryl: the transaction fees for

the investors lower than going to an e trader and we should say microsoft for years -- arthur love that. you got quite a group behind this company. and your time at microsoft, the technology time did that help you in developing this new way of investing? >> absolutely. understanding how people use technology and we realize is whether you are a sophisticated investor, people think conceptually about investing. they don't think stocks and funds. i'm interested in rising interest rates, shell oil, how to i put money to work without doing the agonizing. cheryl: you hata said tabor motif, fashion motif. i like that one. that is what is so interesting about this. >> we have a rising interest-rate motif doing really well right now and -- cheryl: ben bernanke's picture. >> you can see it has done well.

these other companies with large balances of cash and is weighted by current assets which are most sensitive and beating the s&p 500 by 2 x. cheryl: we will have you come back and do another motif but today it was fracking and shale. very interesting. dennis: an uneasy truce. cbs back on there on time warner cable systems tonight but only for an hour and it is not for football. that story ahead in the media minute. cheryl: shares of sydney group. should you buy, sell or hold? debate on that company in the future. we will be right back. announcer: where can an investor be a name and not a number? scottrade. ron: i'm never alone with scottrade. i can always call or stop by my local office. they're nearby and ready to help. so when i have questions, i can talk to someone who knows exactly how i trade. because i don't trade like everybody.

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is a thing of the past. block the acid with prilosec otc, and don't get heartburn in the first place. [ male announcer ] one pill each morning 24 hours. zero heartburn. ashley: ashley webster with your fox business brief. stocks holding on to their gains, dow industrials snapping a six day losing streak, the dow 50 points, step again after economic news from around the globe. retailers losing ground today. l. brand raised its full-year few additional earnings warning for the current quarter. the parent of victoria's secret reporting a second quarter profit of $0.61 a share, a penny above the estimate, revenue rising 5% from last year to $2.52 billion also topping expectations. wells fargo laying off 2300 workers and the mortgage

refinancing boom has cooled off, accounting for less than one% of wells fargo's total work force, wells fargo is the nation's largest mortgage lender. that is the latest on the fox business network giving you the power to prosper.

cheryl: update you on breaking news, trading halted following data issues, the nasdaq telling reuters it was dissemination. let's bring in nicole petallides on the floor of the stock exchange. >> before i read you all the headlines coming out from the nasdaq let me tell you what regular people are saying. i talked to traders and think what does this mean? it means none of these guys if they want to do trading with the nasdaq are able to do so at this time. that means yahoo! that means

apple. those are the names we know. seems like a problem that is ongoing. that being said the nasdaq itself has put out that it is halting one particular options sector coming on the heels of goldman sachs earlier this week, the sec spokesman john nestor said, quote, we are monitoring this situation and have close contact with the exchanges. if they are halting part of what is going on we continue to follow this but as far as i am concerned when i talk to traders on the floor of the exchange over the last week in minutes, apple trading there, everything is being routed away from the nasdaq but that is the trader telling me that. cheryl: great to hear from one of the guys on the floor to get their take as well as you want to grab one of them going through here in the studio to the different names we all know and follow, mentioning apple looking at microsoft, halted.

and even google. and google, nasdaq, and from the nasdaq. and the dissemination issue. and this is a technology issue. this is never good pr. machinery with have been the markets. and big canceled braids with goldman yesterday. and 31 trades. a nice little rise. what do you think? >> and the effect of these being

redirected. they are moving rapidly. >> let's go to nicole petallides. nicole petallides getting reaction from traders. running around to find out what they are saying. any news from there. >> hand-held saying the nyse halted trading and on the nasdaq, 1226 so they put that request in. and on the hand held on this news, it is obviously a big deal. and the stocks are canceled back to customers. and buying apple or selling apple. cheryl: some apple service is

back up after temporary outage. affecting the biggest names. dennis: did you say even the trades, would have moved to other exchanges working like the nyse, even those taken by other exchanges the nothing is traded on that. nicole: we said everything would be traded away but i saw on the hand held, and orders were canceled to the customer. looks like there are not trade going on and big-name week continued to follow that with the microsoft or google or yahoo! or apple to name a few, thousands of equities we're talking about. cheryl: i want to update our viewers, talking to officials at the nasdaq, telling them everything halted. and the stock price quote issue of dissemination, and all of the

trades, at 12:14 p.m. eastern time according to what is coming through on the nasdaq website. they are not willing to speculate on what the issue is. dennis: dissemination, they're not getting enough price information coming back to update to let investors know where the real prices are, disseminating the information. and the notice and transparency is everything. and this is also breaking. when microsoft shares trade on nasdaq they trade on the nyse and so does apple, trading and exchanges. they don't go so far as to save stocks trade on nasdaq and elsewhere, stock everywhere, trades have tried to happen on the nasdaq but not let go to other exchanges. >> let's start with john cortines who is an executive

floor governor, of meridian equity partners. what is the latest you are hearing pertaining to issues with and has that? >> the nasdaq is having an issue. it is out for a little while but more news has been disseminated and what they have asked for is help from the other exchanges the trade nasdaq stocks to halt trading also. on the new york we are able to trade 200 stocks that are nasdaq listed, the secondary market, asked us to stop trading and held those and we have seen it in the nyse. cheryl: microsoft would be an example of that. the secondary exchange. you a telling you cannot trade those stocks anywhere, which is the term. >> all exchanges the trade nasdaq stocks have altered until there's a resolution to be put in place. dennis: could you ask your guest if that is a good strategy? what thought when one exchange blocks of that it would ease anxiety to let stocks trade

elsewhere. is that a good idea? they know stocks can trade on the exchanges. nicole: and interesting concept because usually we would think rolling it to another exchange would be a great way to keep everything going in a liquid manner that would keep everybody calm. is this a good way to do this? a good way to handle this? to say no trading anytime anywhere? >> in this situation when something like this occurs quickly and they don't know what the cause or the solution is going to be, the interim procedure would be to continue trading but this might be a bigger problem than we are seeing now, a clear all across the board in the nasdaq stocks the best for the investors. nicole: issues throughout the morning, 12:50 p.m. eastern time, what have you seen the last few hours? >> no issues coming out of nasdaq stocks we have been trading that pops up. and clearly we knew there was a problem that was there.

cheryl: nicole: nyse compared to nasdaq are people -- >> clearly there are two models and people like to realize even in this situation we are talking about is whether human beings are having this conversation. when we have issues we talk about or are able to see a more physically hold and nasdaq seems like everything is out there. we don't know what is happening and can't figure out yet. cheryl: that means a moment until you get settled. cheryl: thanks, we want to bring to our studio charles payne who is joining us with dennis kneale and liz macdonald. we are watching, monitoring trades. and options trading has been halted. >> i look at the dow to see if there's a general that finger trade, one of these bikes, how is the emotional reaction? so far it is orderly.

i agree with dennis, it is interesting, the idea of trades that goes through somewhere, let's hold the mall. i don't know if they are doing that because there's only a sliver of nasdaq stocks that can be traded in multiple exchanges. i don't know that everyone of these publicly traded companies can be traded somewhere else. if that is not the case -- cheryl: it being extra cautious given what happened with the mini flash crash in 2010 and there were so many studies and so much sec oversight and so many hearings do you think they're being extra cautious by not having trading? charles: you can be cautious to a fault. if you lock this up and halted for too long people get nervous. that creates more insecurity. people would prefer liquidity. i don't care where my trade is executed. joe smith sitting where, wanting to buy stock on the nasdaq i don't care where it gets executed but the fact that it doesn't and the longer it goes on i start to worry.

cheryl: we saw the fallout in a flash crash. we are not comparing it. this is a technical issue but you wonder about the nasdaq. liz: that is right. right now we are 12:52, this started at 1214. the fact that the trader told nicole he feels this could be a bigger problem and it is affecting, under fire as well. wondering how complex this issue is for them to be not trading for 40 minutes. cheryl: we are giving a note here now. this is coming from the co-author of broken market's telling fox business this term is being caught already to market participants the flash freeze. we are quick when it comes to market and this is what is being thrown out again but the trading is in effect at the nasdaq and equities but again being called a flash freeze if you will.

dennis: the lack of liquidity. i have always been told liquidity in the markets is key, that is what you need which is why i am shocked when one exchange as a problem you should down trading in those stocks and other exchanges instead of allowing liquidity to move forward. the other thing, given how much the stock exchange likes to brag we are real human beings, not all automated like the nasdaq, this is a time when human beings could step in and make trades available and instead their hands are tied at the nyse and not helping takeover folks in the nasdaq. cheryl: let viewers know fox business is being told we are expecting at any moment a statement from the nasdaq. we have them on the phone, fox business reach out to the nasdaq telling us at any moment we will get a statement. charles: the guys on the floor of the nyse must be juggling a little bit because all these

systems that are computer-based systems, electronic systems, they have these issues periodically and every time you say cumin being may have been able to step in to stem or mitigate the damage and this is another argument. cheryl: we need to go back to the floor of the new york stock exchange, charles payne, all here, we will stay with you on breaking news at fox business waiting to hear from the nasdaq, nicole petallides on the floor of the stock exchange. nicole: important to make a clarification what is going on here at the new york stock exchange pertaining to stocks that are primarily traded at the nasdaq. they are halted here on the request so they could theoretically change hands here and be traded here but one trader actually said to me the nyse is playing nice in the sandbox. this is the nasdaq and the nyse working together, exchanges working together to try to make sure things go well. as far as human capability they

easily could be trading the stocks but just to be clear across the board have chosen not to do so based on requests. i am not sure where those requests came from but i did hear a term that the new york stock exchange is playing nice in a sandbox with the nasdaq trying to get through this difficult time of technical trouble. cheryl: sorry to interrupt. liz: charles, what will happen when these stocks reopen for trading in a similarly traded market with volumes so skinny? charles: you make a great point. cheryl: i want to bring in charlie gasparino from the newsroom, you have been on the phone. would you hearing? >> a little perspective. stocks are trading. they are not trading on the nasdaq, the stock exchange trade is playing nice but stocks are trading in dark pools so they will make it sound like there's no trading of stocks, big

institutions can get their orders executed, that is what they are doing. facebook as listed on the nasdaq is not trading but could be trading any way. that is the problem regulators have right now. we don't have two markets. we covered like we have two markets that there are many markets known as dark pools, liquid net is a dark pool and there are several others when you can trade this stuff. this gets back to a criticism of mary schapiro, the sec as a crackdown on insider trading has done nothing about this market structure. we have not won market, not two markets, a lot of markets competing. when one breaks down the public has no idea they can still trade stocks and don't know where to trade stocks. this is a convoluted mess but to suggest stocks are not trading would be completely wrong because i will tell you this. charles: dark pools of trading. >> not trading on that exchange.

they could trade anywhere. it is but it is trading and we should point out that the volume, here's why it is not a big deal, volume of exchange of listed stocks that trade on nasdaq is not that big. it is something like 20%. it is 20% of the listed stocks and i believe it is 20% of the stock exchange, stocks generally trade off of the exchange. let me make this point. the problem is when you have five, six, exchanges you don't know what the price of facebook is and that is something the new sec chairwoman should do. dennis: you mentioned dark pools and liquid net, ceo of liquid net supposed to come on the 6:00 show tonight, a lot to say on this but sandra smith at the cme. what is happening in response to this? sandra: we were looking at the injured they chart, diaz and the 500 and you will see there was a

bit of a pullback in overall grandiose trading and the uncertainty levelland into the market, trading in chicago, the largest market in the world, the derivative market, they pay attention when this happens. that being said traders are saying guess what? this is the technology age we live in, something that we as investors, traders, market professionals in general are going to have to deal with going forward so paying attention to this, absolutely. will it be fixed? absolutely. traders are watching. cheryl: stand by, we are monitoring events at the new york stock exchange. let's bring in michael bloch. you have been assessing the situation. what you seeing? what are your thoughts on what we are seeing which is a complete halt of stock trading at the nasdaq and options that the nasdaq. >> not to pull yogi berra but this is deja vu all over again.

the fact that the nasdaq requested these stocks be halted as the justices from the outside the nasdaq that perhaps they can't control or gauge which tells me i'm not pointing a finger anyone, it sounds like the situation with goldman sachs. i am not saying it is them. i'm not accusing anything but don't like another outside program. you could show it is a summer science project gone awry yet again where there is an al gore rhythm or program or mechanical system that has gone in and not done what it is supposed to do. in terms of quote and activity. cheryl: clarify your comments with goldman sachs. want to declare what you are saying, we are doing the best we can, dimming speculation in what is happening at the nasdaq, the nasdaq telling us it is a data error. we expect to hear from them at any moment but clarify your thoughts on